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Are you asking for a WYSIWYG editor or just a text editor?
–
hasenSep 1 '09 at 22:15

I've used Bespin a few times in the past. Its about the best I could expect out of an online HTML editor, and supports a pretty full feature set of static HTML. For anything dynamic, you'll need to code it yourself, as with any other tool.
–
Andrew ScagnelliSep 1 '09 at 21:53

Well, it's not online, but it is free: Microsoft's own Sharepoint Designer 2007, which is basically the Office 2007 version of FrontPage. They set it free earlier this year, if I recall. BTW, it is a vast improvement over FrontPage 2003.